Barclays plans notes linked to three buffered return enhanced indexes, currencies

By Toni Weeks

San Diego, Feb. 2 - Barclays Bank plc plans to price 0% notes due Feb. 23, 2012 linked to three buffered return enhanced components and their related currencies, according to an FWP filing with the Securities and Exchange Commission.

The components are the Euro Stoxx 50 index with a 51% weight, the FTSE 100 index with a 25% weight, and the Topix index with a 24% weight.

The related currencies are the euro for the Euro Stoxx, the pound for the FTSE 100 and the yen for the Topix.

The basket return will equal the sum of the weighted component returns for the three basket components.

The component return for each index will be double any gain, subject to a maximum return. If the index return is greater than or equal to negative 10% but less than zero, the component return for that index will be zero. If it is less than negative 10%, every 1% that is less than negative 10% will be multiplied by 1.1111.

The maximum return will not be less than 20.64% for the Euro Stoxx, 15.04% for the FTSE 100 and 5.52% for the Topix.

The ending basket return will be the average of the basket return on five consecutive averaging dates beginning Feb. 13, 2012.

The notes (Cusip: 06738KBA8) are expected to price on Feb. 4 and settle on Feb. 9.

Barclays Capital Inc. is the underwriter.

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